Atlanta City Council Passes $40 Million Housing Opportunity Bond

On Monday, March 6, 2017, the Atlanta City Council unanimously passed Ordinance 17-O-1056 cosponsored by all Council Members authorizing the City of Atlanta to issue the final $40 million of the Housing Opportunity Bond. The bonds will be used to fund important initiatives including homeowner renovations, multifamily loans, single family loans, nonprofit development loans and land assemblage for affordable and workforce housing development.

“Housing is about people. Issuing this $40 million Housing Opportunity Bond will directly help keep people in their homes and improve affordable housing options for our great citizens,” said Dickens. “After working with the Reed Administration, the Department of Planning & Community Development, Invest Atlanta, Atlanta Housing Authority and the community for three years, it is tremendous to pass this significant legislation. This Bond is an important tool to develop equitable and inclusionary housing options for our residents and promote development without displacement.”